PRAGUE (AP) – China’s president wrapped up his trip to the Czech Republic on Wednesday by overseeing the signing of 30 business deals that could bring almost $4 billion of Chinese investment this year.
The deals were inked a day after Xi Jinping signed a strategic partnership with the country that was once a critic of China’s human rights record.
Xi’s visit is a result of a more business-oriented Czech approach to China than the one that prevailed under the late President Vaclav Havel, a prominent proponent of human rights.
The deals focus on tourism, banking, energy and car making.
Among them, China’s Ping An Bank will link up with the Czech-Slovak J&T Finance Group to set up an investment fund with 5 billion euros ($5.7 billion) to invest in the energy and finance sectors and industry.